U.S. equities finished off a volatile week in the red today, following a slew of mixed economic data and lingering Fed tapering concerns. In economic news, the University of Michigan’s preliminary consumer sentiment reading came in at 82.7, below the 84.5 expectation. In separate reports, producer prices rose more than expected, while the current account deficit widened in Q1. Adding to woes, the IMF revised its U.S. growth outlook for 2013 down to 2.7% [see The Cheapest ETF for Every Investment Objective].
Closing out a volatile week, all three major U.S. equity indexes fell to close in negative territory. The Dow Jones Industrial Average ETF (DIA, A-) fell 0.75%, as its underlying index logged in its fourth triple-digit move in a row. The S&P 500 ETF (SPY, A) shed 0.64%, while the tech-heavy Nasdaq ETF (QQQ, B+) lost 0.62%.
In Europe, markets were slightly up with the Stoxx Europe 600 inching 0.2% higher. Meanwhile, Japan’s Nikkei Stock Average recovered from yesterday’s 6.4% sell-off, bouncing back 1.9% during the session. China’s Shanghai Composite rose 0.6%.
Bond ETF Roundup
U.S. Treasury prices traded higher once again today on Fed tapering speculations. Yields on 10-year notes fell 2 basis points, while 30-year bond and 5-year note yields fell 2 and 3 basis points, respectively [see also Seven Simple & Cheap ETF Model Portfolios].
Crude oil futures rallied today, settling above $97 a barrel, as investor concern over tensions in Syria heightened. Gasoline prices also rose, while natural gas futures slid. Meanwhile, gold futures traded higher, settling at $1,387.60 an ounce.
ETF Chart Of The Day #1: (IXC)
The S&P Global Energy Index Fund (IXC, A) was one of the worst performers today, shedding 1.17% during the session. Energy shares were among today’s worst performers, forcing this ETF to gap lower at the open. IXC traded lower throughout the day, eventually settling at at $39.79 a share [see Energy Bull ETFdb Portfolio].
ETF Fun Fact Of The Day
The best-performing regional strategy year-to-date has been the Global Titans ETFdb Portfolio, which has gained 5.64%.
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Disclosure: No positions at time of writing.